The cryptocurrency market is facing potential turbulence as FTX, a bankrupt cryptocurrency exchange, plans to sell off its tokens to repay its creditors. An analytics firm has suggested that this sell-off could amount to approximately $3 billion.
FTX’s recent court filing reveals that the exchange holds assets totaling around $7 billion, including $1.16 billion in Solana (SOL) tokens and $560 million in Bitcoin (BTC). The filing also discloses significant payments made to senior executives.
FTX’s recent court filing reveals that the exchange holds assets totaling around $7 billion, including $1.16 billion in Solana (SOL) tokens and $560 million in Bitcoin (BTC). The filing also discloses significant pa
FTX is seeking approval from a New York court to liquidate its crypto assets for cash, which could lead to a substantial sell-off and impact the market. Despite other developments in cryptocurrency, such as the Grayscale Bitcoin Trust (GBTC) gaining ground in its bid to become a Bitcoin exchange-traded fund (ETF), the market has shown little response to these announcements.
Ethereum’s price has remained relatively stable despite unveiling a prospective Ethereum spot ETF and Visa’s decision to use Solana for settlements.
Source: CRYPTOGLOBE
